Richelieu Dennis: Entrepreneur, Investor, and Advocate for Economic Empowerment

 

Richelieu Dennis: Entrepreneur, Investor, and Advocate for Economic Empowerment

Richelieu Dennis is a Liberian-American entrepreneur, investor, and philanthropist best known for founding Sundial Brands, the parent company of SheaMoisture, and for restoring Essence magazine to 100% Black ownership. With a career rooted in cultural heritage and community empowerment, Dennis has become an  influential voices in beauty, media, and venture capital for underrepresented communities.

Early Life and Education

Born in Liberia in 1970, Richelieu Dennis immigrated to the United States during the Liberian civil war. He attended Babson College in Massachusetts, a school renowned for its entrepreneurial focus. While still in college, Dennis began selling natural, handmade shea butter products to help support his family, drawing on recipes and traditions passed down from his grandmother.

What began as a modest street-vending business in Harlem would eventually blossom into a global company.

The Rise of Sundial Brands

In 1991, Dennis co-founded Sundial Brands with his mother, Mary Dennis, and his college roommate, Nyema Tubman. The trio launched brands like SheaMoisture and Nubian Heritage with a mission to address the unmet skin and hair care needs of Black consumers. The company’s focus on using natural ingredients, ethical sourcing, and culturally authentic storytelling helped it grow into a household name.

In 2017, Sundial was acquired by Unilever, with Dennis retaining a leadership role. As part of the acquisition deal, he created the New Voices Fund, a $100 million initiative to invest in and support women of color entrepreneurs.

Reviving Essence Magazine

In 2018, Dennis made headlines when he purchased Essence Communications Inc., bringing the iconic Essence magazine back under Black ownership after nearly two decades. The move was widely praised as a historic act of cultural reclamation. He quickly appointed a Black women-led executive team, further reinforcing his commitment to equity, representation, and self-determination.

Essence Ventures, the company he founded to carry out the acquisition, aims to create platforms that elevate and empower the Black community through storytelling, commerce, and capital.

Philanthropy and Advocacy

Dennis is not only a businessman but a committed advocate for inclusive economic growth. Through the New Voices Fund, he has supported dozens of women-led companies with mentorship, funding, and business development resources.

He also launched the Global Black Economic Forum in 2019 during the Essence Festival, creating a platform to address the systemic barriers facing Black communities around the world.

Awards and Recognition

  • Named one of Fast Company’s “Most Creative People in Business” (2018)
  • Honorary doctorate recipient from Babson College
  • Featured in Forbes, Black Enterprise, and Fast Company for business leadership and social impact
  • Recognized for his role in redefining beauty standards and shifting power dynamics in media ownership

Personal Life

Richelieu Dennis resides in New York and is the father of three children. He continues to advocate for entrepreneurship, cultural celebration, and economic inclusion as pathways to lasting social change.

Final Thoughts

Richelieu Dennis's work exemplifies a powerful fusion of entrepreneurship and activism. From the streets of Harlem to the boardrooms of global corporations, his journey reminds us that business can be a tool for liberation, and that ownership—of our stories, our businesses, and our futures—matters.

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